DDC Signs Shipping Deal

The Diamond Dealers Club of New York has signed an agreement with shipping company TransGuardian that will allow DDC members to ship packages of diamonds and jewelry at preferred rates.

The agreement, which will complement the DDC’s new secure online trading platform, will include a credit risk insurance policy from TransGuardian for transactions managed through the DDC’s Bonded Trading System. TransGuardian will also assist the DDC in setting up a Patriot Act Compliance Secure Trading Zone, which will include online Restricted Person Screening, which checks business partners against worldwide governmental anti money laundering and anti-terrorism checklists.

In addition, TransGuardian will set up a package-drop off and receiving kiosk near the DDC entrance at 580 Fifth Avenue, where members will be able to log in and
generate shipping labels with insurance. It will also have daily pickups by the U.S. Postal Service, FedEx, and UPS.

“With our online trading platform we are enabling members from around the country to trade in diamonds 24 hours a day, and now, with the new shipping service, they will be able to complete the transaction, moving the diamonds in a safe and secure manner,” said Moshe Mosbacher, DDC president, in a statement.

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